Newfoundland Labrador

Overview In August 2024 Newfoundland Labrador exported C$1.16B and imported C$338M, resulting in a positive trade balance of C$819M. Between August 2023 and August 2024 the exports of Newfoundland Labrador have increased by $75.6M (6.99%) from C$1.08B to C$1.16B, while imports increased by C$170M (101%) from C$168M to C$338M.

Trade In August 2024, the top exports of Newfoundland Labrador were Crude Petroleum (C$625M), Iron Ore (C$179M), Refined Petroleum (C$118M), Raw Nickel (C$103M), and Crustaceans (C$47.9M). In August 2024 the top imports of Newfoundland Labrador were Soybean Oil (C$123M), Planes, Helicopters, and/or Spacecraft (C$77.5M), Refined Petroleum (C$72.2M), Passenger and Cargo Ships (C$21.2M), and Bovine, Sheep, and Goat Fat (C$16.2M).

Destinations In August 2024, Newfoundland Labrador exported mostly to United States (C$527M), Netherlands (C$225M), United Kingdom (C$88M), Germany (C$74.7M), and China (C$49.3M), and imported mostly from Argentina (C$123M), United States (C$64.2M), Spain (C$51.2M), United Kingdom (C$34.8M), and France (C$27.5M).

Growth In August 2024, the increase in Newfoundland Labrador's year-by-year exports was explained primarily by an increase in exports to United States (C$34M or 6.89%), Algeria (C$29.9M or 20.8k%), and South Korea (C$21.3M or 805%), and product exports increase in Crude Petroleum (C$61.8M or 11%), Raw Nickel (C$27.3M or 36.3%), and Processed Crustaceans (C$7.42M or 446%). In August 2024, the increase in Newfoundland Labrador's year-by-year imports was explained primarily by an increase in imports from Spain (C$51.2M or 61.8k%), France (C$27.4M or 18.2k%), and United Kingdom (C$19.2M or 123%), and product imports increase in Planes, Helicopters, and/or Spacecraft (C$72.5M or 1.46k%), Passenger and Cargo Ships (C$19M or 862%), and Excavation Machinery (C$1.59M or 838%).